US consumers have been caught in an economic freefall over the past two years, but the crisis appears to be nearing an end. However, the significant changes in attitudes and behaviors brought about by these recessionary pressures persist, with consumers continuing to rethink what value means and monitor spending carefully. In this environment, the growing focus on nutrition as a means to wellness-coupled with renewed interest in eating at home and demand for "comfort food"-has spurred bakeries to provide healthy products that offer high-quality ingredients and a restaurant-quality experience at appealing prices.
These combined trends have resulted in steady, if modest, growth in sales of fresh baked goods over the past five years. Retail sales of fresh bread and sweet baked items topped $16 billion in 2009, up 4.2% from the previous year. And as bakeries grow ever more creative in meeting consumer demand for specific types of products and the economy improves, this rate of growth is likely to improve. Taking all market trends into account, the report projects that the market will grow by 26% between 2009 and 2014, to reach $20.1 billion at retail.
A completely new report, Fresh Baked Goods in the U.S. offers a comprehensive look at the overriding trends in the market. The report examines baked goods that are prepared fresh at both in-store and stand-alone bakeries, using preparation methods such as made-from-scratch, mixes, par-baking (or pre-baking) and thaw-and-heat. It also analyzes trends in the key retail channels through which baked goods are sold-both stand-alone bakeries and in-store outlets-including traditional supermarkets, supercenters/mass merchandisers, natural food stores, and warehouse clubs. The report also examines activity at the foodservice level, where trends in baked goods often start, focusing on high-growth areas including bakery cafés.
A special feature is May/June 2010 custom research on consumer attitudes and purchasing patterns. Specifically tailored for this report, the survey details consumer preferences for baked goods channels and items purchased, in addition to other psychographic indicators. Additional demographic analysis derives from data compiled by Experian Simmons, New York, NY, including indexing of consumers most or least likely to often eat different types of breads. The report also breaks out sales by type of bread or sweet baked good for numerous segments, details market growth drivers and projects future sales, identifies competitive opportunities including sustainability appeals, and tracks trends at in-store bakeries.
Source: Companies and Markets.com
